Report
Cedric Rossi

ADIDAS: Succeed the backswing in 2021 to accelerate in 2022 onwards | Conviction BUY | EUR325(+17%)

ADIDAS - Conviction BUY | EUR325(+17%)
Succeed the backswing in 2021 to accelerate in 2022 onwards

Resilient trends towards the end of the year…
… but the Covid-19 pandemic is very present
2021 to be a springboard year followed by an acceleration phase
Despite these near-term adjustments, ADS still offers one of the strongest rebounds in sales & earnings
Underlying
Adidas AG

ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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